Revenue

9 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Revenue Recognition

The following table presents DXC’s revenues disaggregated by geography, based on the location of incorporation of the DXC entity providing the related goods or services:

	Three Months Ended				Nine Months Ended
(in millions)	December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020
United States	$	1,168	$	1,290	$	3,570	$	4,665
United Kingdom	578		607		1,749		1,759
Other Europe	1,319		1,335		3,878		3,784
Australia	376		377		1,172		1,128
Other International	648		679		1,888		2,008
Total Revenues	$	4,089	$	4,288	$	12,257	$	13,344

The revenue by geography pertains to both of the Company’s reportable segments. Refer to Note 20 – “Segment Information” for the Company’s segment disclosures.

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustments for revenue that have not materialized and adjustments for currency. As of December 31, 2021, approximately $22 billion of revenue is expected to be recognized from remaining performance obligations. We expect to recognize revenue on approximately 14% of these remaining performance obligations in fiscal 2022, with the remainder of the balance recognized thereafter.

Contract Balances

The following table provides information about the balances of the Company’s trade receivables and contract assets and contract liabilities:

	As of
(in millions)	December 31, 2021		March 31, 2021
Trade receivables, net	$	2,536	$	2,871
Contract assets	$	369	$	351
Contract liabilities	$	1,883	$	1,701

Change in contract liabilities were as follows:

	Nine Months Ended
(in millions)	December 31, 2021		December 31, 2020(1)
Balance, beginning of period	$	1,701	$	1,756
Deferred revenue	2,287		2,111
Recognition of deferred revenue	(2,032)		(2,137)
Currency translation adjustment	(22)		146
Other(1)	(51)		(108)
Balance, end of period	$	1,883	$	1,768

(1)Other included $54 million of contract liabilities related to the divested HHS business discussed in Note 4 - “Divestitures” and contract liabilities reclassified to assets held for sale.